A Fully Bayesian Approach for Combining Multilevel Failure Information in Fault Tree Quantification and Corresponding Optimal Resource Allocation

This paper presents a fully Bayesian approach that simultaneously combines basic event and statistically independent higher event-level failure data in fault tree quantification. Such higher-level data could correspond to train, sub-system or system failure events. The full Bayesian approach also allows the highest-level data that are usually available for existing facilities to be automatically propagated to lower levels. A simple example illustrates the proposed approach. The optimal allocation of resources for collecting additional data from a choice of different level events is also presented. The optimization is achieved using a genetic algorithm.

Evaluating stress patterns for Plio-Quaternary brittle deformation along the Calama-Olacapato-El Toro fault zone, Central Andes

Understanding the geometry and kinematics of the major structures of an orogen is important to elucidate its style of deformation, as well as its tectonic evolution. We describe the temporal and spatial changes in the state of stress of the trans-orogen area of the Calama-Olacapato-El Toro (COT) Fault Zone in the Central Andes, at about 24°S within the northern portion of the Puna Plateau between the Argentina-Chile border. The importance of the COT derives principally from the Quaternary-Holocene activity recognized on some segments, which may shed new light on its possible control on Quaternary volcanism and on the seismic hazard evaluation of the area. Field geological surveys along with kinematic analysis and numerical inversion of ∼140 new fault-slip measurements have revealed that this portion of the COT zone, previously considered a continuous, long-lived lineament, in reality has been subjected to three different kinematic regimes: 1) a Miocene transpressional phase with the maximum principal stress (σ1) chiefly trending NNE-SSW; 2) an extensional phase that started by 9 Ma, with a horizontal NW-SE-striking minimum principal stress (σ3) – permutations between σ2 and σ3 axes have been recognized at two sites – and 3) a left-lateral strike-slip phase with a horizontal ∼E-W &sigma1 and ∼N-S σ3 dating to the Late Pliocene-Quaternary. Spatially, in the Quaternary, the left-lateral component decreases toward the westernmost tip of the COT, where it transitions to extension; this produced to a N-S horst and graben structure. Hence, even if transcurrence is still active in the eastern portion of the COT, as focal mechanisms of crustal earthquakes indicate, our study demonstrates that extension is becoming the predominant structural style of deformation, at least in the western region. These major temporal and spatial changes in the tectonic regimes are attributed in part to changes in the magnitude of the boundary forces due to subduction processes. The overall orogen-perpendicular extension might be the result of vertical stress larger than both the horizontal stresses induced by gravitational effect of a thickened crust.

Strengthening a Traditional Fire Protection Course by Using Fault Trees

Traditional courses and textbooks in occupational safety emphasize rules, standards, and guidelines. This paper describes the early stage of a project to upgrade a traditional college course on fire protection by incorporating learning materials to develop the higher-level cognitive ability known as synthesis. Students will be challenged to synthesize textbook information into fault tree diagrams. The paper explains the place of synthesis in Bloom’s taxonomy of cognitive abilities and the utility of fault trees diagrams as a tool for synthesis. The intended benefits for students are: improved abilities to synthesize, a deeper understanding of fire protection practices, ability to construct fault trees for a wide range of undesired occurrences, and perhaps recognition that heavy reliance on memorization is the hard way to learn occupational safety and health.

Executive compensation and the performance of the firm

A sample of large industrial corporations is examined to determine whether there is a relationship between the levels of compensation received by the senior executives of those firms and the firms' economic performances. We find consistent evidence of such a relationship, with differences across firms in the total compensation of their three highest-paid officers being positively related to differences in both the common stock returns and operating profitability of the firms. The implication is that compensation packages are designed to reduce agency costs.

Executive compensation and executive incentive problems: an empirical analysis

The question of whether the design of the corporate executive pay package reflects an attempt to reduce agency costs between shareholders an managers is adressed. The components of senior executive pay are found to vary systematically across firms in a manner that cannot easily be explained by tax effects, and which would indicate that individual elements of pay are aimed at controlling for limited horizon and risk exposure problems. Managerial decisions and the structure of managerial pay therefore appear to be interrelated.